Oil Prises Rising For 2nd Day

Oil prices eased yesterday for a second day after Saudi Arabia said that it could quickly tap spare oil production capacity.

US light crude traded down 92 cents to $53.65 a barrel, extending Monday?s 82 cent loss on the New York Mercantile Exchange. In London, Brent crude futures were down 69 cents to $53.71.

Qatar?s oil minister, Abdullah al-Attiyah, said that OPEC was doing everything it could to bring down oil prices.